What Items Can Be Included in High-value Home Insurance in Rhode Island?

With its proximity to major metropolitan areas and beautiful coastline, Rhode Island is home to many luxurious and ideally located residences. However, while these homes may offer exciting experiences and represent valuable assets, they’re not immune to the many risks and perils that might impact many dwellings and structures. Understanding and investing in high-value home insurance may be a critical decision as these policies can offer essential coverage for your valuable property.

What Is High-value Home Insurance?

As its name suggests, these policies are a specialized form of homeowners insurance, typically tailored toward the unique circumstances and more significant needs of valuable homes and assets. Still, the general premise of this type of coverage closely resembles standard policies, as you pay a regular (e.g., monthly or annual) premium to maintain your insurance. In return, your carrier may agree to assist with covered losses up to your policy’s limits and minus its deductible.

Can My Policy Cover Personal Possessions?

Yes, personal possessions coverage is a core element of high-value home insurance. Your policy may financially protect items in your home and elsewhere, such as those stored in your car. High-value home insurance may be particularly essential for those with expensive assets, as standard policies’ coverage limits are often insufficient. Specifically, you may wish to ensure sufficient high-value personal possessions coverage for the following:

• Fine art
• Jewelry
• Collectibles
• High-end electronics
• Furs and designer clothing
• Musical instruments

What Else Is Covered?

High-value home insurance may also include several other key components, including the following:

• Dwelling coverage can help pay to repair your home’s structural elements, including walls, foundation, roofs and plumbing and electrical systems.
• Liability coverage may assist with third-party losses for which you’re at fault, such as if someone is injured in your home or you cause damage to a neighbor’s property.
• Loss-of-use coverage can offset additional living expenses if you must temporarily vacate your home due to a covered incident.

We’re Here to Help

Contact Cormack-Routhier Agency, Inc. in Cranston, RI, today to learn more about high-value home insurance and how it can protect your belongings and finances.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.